CAC Reduces Cost of Business Name Registration to N5,000 for 90 Days

The
Corporate Affairs Commission (CAC) has announced a reduction in the cost of
business name registration. A business name will now be registered at the cost
of N5,000. The service previously attracted a fee of N10,000.

The
CAC in a statement on Tuesday said the reduction in cost of business name
registration was a business incentive strategy aimed at encouraging micro,
small and medium enterprises to formalise their operations.

Public Notice

In an effort to deepen the benefits of its reform
initiatives, the Corporate Affairs Commission has reduced the cost of Registration
of Business Names from N10,000 to N5,000 after the Name Reservation of N500,
with effect from the 1st October
to 31st December 2018.

The Business Incentive Strategy is aimed at creating a
window for Micro, Small and Medium Enterprises (MSMEs) to formalize their
businesses, which will enable them own corporate account with Banks, have
access to Loans, grants and other government interventions.

Members of the public are enjoined to take advantage of this
window, to register their Business Names at the reduced cost of N5,000 after
the Name Reservation of N500.